Streetbeat News

Partnerships

CVS

CVS Health has invested approximately $35M in two new affordable housing developments in Hawai'i, in collaboration with various partners. The investment aims to provide 369 new affordable housing units across Maui and O'ahu, addressing the critical need for housing, especially in areas affected by the 2023 Maui wildfires.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:28 am

BB

BlackBerry has announced a partnership with the SANS Institute to establish the BlackBerry Cybersecurity Center of Excellence (CCoE) in Malaysia. This initiative aims to offer SANS training courses to enhance cybersecurity skills and grow the cyber workforce in Malaysia and the Indo-Pacific region.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:16 am

TSLA

Swedish trade union SEKO announced it will halt maintenance, service, and network expansion of Tesla Inc.'s (NASDAQ:TSLA) charging stations in Sweden in support of the IF Metall union's strike against Tesla. The strike, ongoing since October, aims to pressure Tesla into collective bargaining agreements for better wages and conditions. SEKO's actions, starting March 4, include a blockade on all work related to Tesla's charging stations, potentially affecting Tesla's operations and expansion in Sweden.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 7:12 am

STGW

Stagwell (STGW) has expanded its global affiliate program by adding Octopus&Whale, a Philippines-based gaming and experience design agency. This move signifies Stagwell's strategic expansion into the gaming and digital experience sector, aiming to leverage Octopus&Whale's expertise to enhance its offerings in these rapidly growing fields.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:46 am

LCID

RIVN

Elon Musk criticized Lucid Group Inc (LCID) and Rivian Automotive Inc (RIVN) following their quarterly earnings reports. Musk highlighted Lucid's reliance on Saudi Arabia's Public Investment Fund (PIF) for financial support, referring to it as 'Saudi sugar daddy' and commented on Lucid's market cap being significantly lower than Tesla's. He also warned that Rivian might face bankruptcy within six quarters due to its current trajectory, despite acknowledging the company's decent product design. Both companies reported losses for the fourth quarter, with Lucid missing revenue estimates and Rivian reporting a significant per-vehicle loss.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 6:10 am

GOOGL

Google (NASDAQ:GOOGL) is set to start manufacturing its Pixel smartphones in India, beginning with the Pixel 8 Pro in Southern India and the Pixel 8 in Northern India. This move aims to diversify its supply chain and tap into the Indian market, following a trend among tech companies like Apple and Samsung. The decision reflects a shift from manufacturing in Vietnam due to US-China tensions and aligns with the 'China+2' strategy for supply chain resilience.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 22, 2024 | 6:07 am

AMZN

RIVN

Rivian Automotive Inc.'s CFO, Claire McDonough, disclosed that a significant decrease in electric delivery van (EDV) deliveries to Amazon.com Inc. in Q4 negatively impacted Rivian's gross margin. Deliveries to Amazon accounted for only 8% of Rivian's total revenue in Q4, down from 30% in the previous quarter. This decline was expected due to Amazon's restriction on new commercial van intake during peak periods. Rivian ended Q4 with a surplus of commercial vans, contributing to a 46% drop in gross margin. Despite a partnership with Amazon to deploy 100,000 EDVs by 2030, only over 10,000 are currently operational. Rivian has revised its agreement with Amazon to sell vans to other parties but does not expect significant demand from non-Amazon customers until around 2025.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 4:36 am

TSLA

Tesla Inc (TSLA) will proceed with the expansion of its Giga Berlin factory despite a local vote against cutting trees for the expansion. Executive Rohan Patel stated the vote has 'zero impact' on future plans, emphasizing the company's commitment to environmental sustainability and community engagement. The expansion aims to double the plant's capacity for battery and car production, despite the non-binding local vote posing a challenge.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 3:56 am

SHIBUSD

The Shiba Inu (SHIB) ecosystem has seen a 2,730% increase in its burn rate, with 3 trillion tokens moved to entities like Coinbase, Gate.io, Robinhood, and private wallets. The integration of Shibarium by Tangem and the launch of SHEboshi NFTs on Ethereum are notable developments. Daily transactions have surged to 4.21 million, and wallet addresses have exceeded 1 million. The introduction of Shiba Inu trading in UpDown Options on Crypto.com and the potential utility and burning capabilities of Shibarium are highlighted as key factors for SHIB's future growth.

Portfolio Pulse from Khyathi Dalal

February 21, 2024 | 11:47 pm

DIS

SONY

Director Sam Mendes is set to create four interconnected movies about each member of The Beatles, to be released by Sony Pictures Entertainment, a unit of Sony Group Corp (NYSE:SONY). The Beatles and their families, along with Apple Corps music company, have granted full rights for the films. This unique cinematic approach could revolutionize music biopics and the theatrical release strategy is anticipated to be innovative.

Portfolio Pulse from Chris Katje

February 21, 2024 | 11:29 pm